Iceland lowers price of 500 items

Iceland has become the latest supermarket to cut prices to help customers with the cost-of-living crisis.

The supermarket said it is investing around £26 million each year achieve the price cuts, which will span across 500 items.

The lower prices apply to a variety of branded goods and Iceland’s own products, including breakfast cereals, meat and coffee.

Iceland has also extended its multibuy offering, with a third of its range eligible for its mix and match promotions.

Commenting on the news Richard Walker, executive chairman of Iceland Foods, said: “Families are struggling more than ever as the cost-of-living crisis worsens. That’s why we’ve invested millions – and will continue to do so – to keep prices low across key weekly shop items. We know we have a responsibility as a business to support our customers in any way we can and offer great value when people need it most.”

Several supermarkets have recently announced price cuts in response to the cost-of-living crisis and rising food prices.

Last month, Morrisons said it would lower the price of around 500 products.

Waitrose also announced it will lower the prices of around 200 items with around half dropping in price by 10 per cent.

Asda has also frozen the prices of over 500 items until the end of August, while last month Sainsburys said it would cut prices on around 40 of its own brand products.

    Share Story:

Recent Stories

Smarter merchandise planning across the retail value chain
In this webinar, Matt Hopkins, Head of Retail Solutions, Board, Catherine Tooke, SVP Product & Planning, Sweaty Betty, and Subir Gupta, Managing Principal, Thought Provoking Consulting join Retail Systems Editor Jonathan Easton to discuss the findings of the recent Retail Systems report The Merchandise Planning Challenge: How are retailers harnessing technology to optimise planning and retain customers? and examine the innovations that are improving retail planning.
Better Together: Optimising store fulfilment with POS and OMS
Customers want a coherent, connected journey when they engage with a retailer.

An Order Management System (OMS) helps retailers manage inventory across the multiple channels they’re selling through.